Fuel Tech (NASDAQ:FTEK) Raised to Hold at Wall Street Zen

Fuel Tech (NASDAQ:FTEK) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Zacks Research downgraded Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Fuel Tech Stock Performance

NASDAQ:FTEK opened at $1.55 on Friday. Fuel Tech has a fifty-two week low of $1.17 and a fifty-two week high of $3.65. The company has a 50 day simple moving average of $1.55 and a two-hundred day simple moving average of $1.45. The company has a market capitalization of $48.39 million, a PE ratio of -14.09 and a beta of 1.30.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%.The firm had revenue of $6.49 million during the quarter, compared to analyst estimates of $6.58 million. Research analysts predict that Fuel Tech will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FTEK. BlackRock Inc. bought a new position in Fuel Tech during the second quarter worth $1,097,000. GSA Capital Partners LLP bought a new stake in Fuel Tech in the second quarter valued at $652,000. Renaissance Technologies LLC increased its stake in Fuel Tech by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 259,811 shares in the last quarter. Beartown Capital Management LLC acquired a new position in shares of Fuel Tech during the fourth quarter valued at about $250,000. Finally, XTX Topco Ltd raised its holdings in shares of Fuel Tech by 218.3% during the fourth quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 122,291 shares during the period. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.